What Credit Score Do You Need for a Business Loan?

So you’re thinking about a business loan—nice. Whether you’re launching the next food truck empire or upgrading your dog grooming van, the first thing lenders want to see is your credit score. But here’s the million-dollar (or maybe five-figure) question: What credit score do you actually need to get approved?

Business Loan Credit Score Basics

Let’s break it down:

• Personal Credit Score: Most lenders still look at this, especially if you’re a micro or small business. Score ranges:
  • Excellent (750+): You’re the golden child.
  • Good (700–749): You’re solid.
  • Fair (640–699): You’re okay-ish.
  • Bad (below 640): We’ve got some work to do.
• Business Credit Score: Ranges from 0 to 100 (most models).
  • 80–100: You walk on water.
  • 50–79: You’re dependable.
  • Below 49: Let’s just say lenders will raise an eyebrow.

What Lenders Want

Different types of lenders = different expectations:

• Traditional Banks: Want you to have a 680+ personal score. They also want a business that’s been around longer than your kid’s middle school career.
• Online Lenders: More flexible—some approve loans with scores as low as 600.
• Alternative Funders (like Viking Funding 😉): Often work with a wider range of credit profiles.

Pro Tips to Boost Your Approval Odds

• Keep your credit utilization low—like your cousin at family reunions.
• Pay everything on time. Even the small stuff.
• Don’t max out cards unless you like stress.

Final Thoughts

There’s no magic number, but generally, shoot for a personal score above 600 and a business score above 75. If you’re not there yet, don’t panic—there are always options.

👉 Want help figuring out where you stand? Call Viking Funding at 754-240-8620 or click the “Apply Now” button and get the clarity you need.